Texas Capital Bancshares, Inc. (NASDAQ:TCBI)‘s stock had its “buy” rating restated by equities research analysts at Royal Bank Of Canada in a research note issued on Friday.
A number of other brokerages also recently commented on TCBI. Zacks Investment Research downgraded shares of Texas Capital Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Wedbush downgraded shares of Texas Capital Bancshares from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $88.00 to $87.00 in a research note on Wednesday, October 4th. They noted that the move was a valuation call. SunTrust Banks, Inc. restated a “buy” rating and issued a $90.00 price objective on shares of Texas Capital Bancshares in a research note on Wednesday, October 4th. DA Davidson restated a “neutral” rating and issued a $90.00 price objective on shares of Texas Capital Bancshares in a research note on Thursday. Finally, Bank of America Corporation restated a “buy” rating and issued a $100.00 price objective (up previously from $97.00) on shares of Texas Capital Bancshares in a research note on Thursday. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Texas Capital Bancshares has an average rating of “Hold” and a consensus price target of $89.13.
Shares of Texas Capital Bancshares (TCBI) opened at 88.00 on Friday. The stock has a 50 day moving average price of $81.66 and a 200-day moving average price of $78.18. The firm has a market cap of $4.36 billion, a PE ratio of 24.42 and a beta of 1.68. Texas Capital Bancshares has a 52-week low of $56.25 and a 52-week high of $93.35.
Texas Capital Bancshares (NASDAQ:TCBI) last issued its earnings results on Wednesday, October 18th. The bank reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. The firm had revenue of $204.40 million during the quarter, compared to the consensus estimate of $214.08 million. Texas Capital Bancshares had a net margin of 22.50% and a return on equity of 10.40%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.87 earnings per share. On average, equities analysts anticipate that Texas Capital Bancshares will post $4.04 EPS for the current fiscal year.
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In other Texas Capital Bancshares news, insider C Keith Cargill bought 3,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was acquired at an average price of $74.15 per share, for a total transaction of $222,450.00. Following the completion of the purchase, the insider now owns 80,286 shares of the company’s stock, valued at $5,953,206.90. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.47% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. World Asset Management Inc raised its holdings in Texas Capital Bancshares by 2.1% during the second quarter. World Asset Management Inc now owns 3,134 shares of the bank’s stock worth $243,000 after purchasing an additional 64 shares in the last quarter. 1st Global Advisors Inc. raised its holdings in Texas Capital Bancshares by 1.1% during the second quarter. 1st Global Advisors Inc. now owns 6,979 shares of the bank’s stock worth $540,000 after purchasing an additional 77 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Texas Capital Bancshares by 0.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 12,631 shares of the bank’s stock worth $978,000 after purchasing an additional 96 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in Texas Capital Bancshares by 2.7% during the second quarter. Teacher Retirement System of Texas now owns 4,006 shares of the bank’s stock worth $310,000 after purchasing an additional 107 shares in the last quarter. Finally, Peloton Wealth Strategists raised its holdings in Texas Capital Bancshares by 0.9% during the second quarter. Peloton Wealth Strategists now owns 17,050 shares of the bank’s stock worth $1,320,000 after purchasing an additional 150 shares in the last quarter.
Texas Capital Bancshares Company Profile
Texas Capital Bancshares, Inc is a bank holding and a financial holding company. The Company is the parent of Texas Capital Bank, National Association (the Bank). It offers a range of loan, deposit account and other financial products and services to its customers. It offers a range of products and services for its business customers, including commercial loans for general corporate purposes, including financing for working capital, internal growth, acquisitions and financing for business insurance premiums; medium- and long-term tax-exempt loans for municipalities and other governmental and tax-exempt entities; wealth management and trust services, and letters of credit.
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